Product launch & Life cycle management Flashcards

Question

What is Fixed-Dose combinations and co-packaging?

Answer 1

- Putting two drugs together in one packaging makes it more convenient for the patients and may improve the compliance.

Answer 2

They are interrelated and follow S-curve patterns. Technology adoption can stimulate technology development

Answer 3

- Drugs that are based on existing drugs involving modifying the chemistry of the active substance. - They are new medical drugs, but seen as a continuation of product on the market. While the molecule is new, it does not present a radical deviation from the existing drug and second generation products are typically found in the same class as the OG drug.

Answer 4

1) New class and same disease: new molecular entity for a currently served disease area --> serve a replacement or addition to a currently marketed drug 2) Same class and new diseases: Experience with one class allows for developing a new molecule of that class but for a new disease which is currently not addressed with the firm's existing products 3) Same class and same disease: New molecule to replace the existing product, with the new drug being superior

Answer 5

NO!!! There are also products that do not follow the standard product life cycle - especially the case when if products have a strong brand value with customers repeatedly buying the product. - Also possible that the product follows to cycles or scallops. - The patterns of a lifecycle are likely the outcome of a chosen strategy by the firms.

Answer 6

- Obvious strategy to access larger patient populations - Launch market is typically US or Europe, depending on faster regulatory approval. - Reimbursement practices and pricing strategies also contribute to prioritization/ de-prioritization before deciding on expanding. - Emerging markets becoming increasingly attractive (BRIC countries), but IP and exclusivity environments less favorable - Expansion: timing, growth potential, competition and geographic synergies are relevant dimension; potentially partnerships needed/ helpful. - Harmonization of offerings desirable because each variation will introduce extra costs, hence harmonization offers increased profit margins

Answer 7

- Only possible for a small group of drugs as the patients are required to be able to self-diagnosed, self-treated and self-monitored, Therefore the drug must have a high safety margin. - Mild painkillers, allergy drugs, gastrointestinal disorders (low dose) - Out-of-pocket payments do not allow for high pricing. OTC drugs do not allow for high profits, but a broad spread making them relevant profits. - Limited periods of market exclusivity possible (in US 3 years, 1 year in Europe) --> Consider what happens to related prescription-based drugs (is there any cannibalization (OTC cannabilized revenue from a related prescription drugs, will they be considered different enough by payers)

Answer 8

- How can the optimal return on investment (ROI) be achieved? - Common: starting with niche indications (Orphan) that allow or high initial pricing, later reducing prices if larger patient populations are targeted. - Steady price increases not uncommon, but drastically changing prices upward remains to be the exception in most markets. - Price decreases in one country may lead to negative price pressures in other countries. - Risk-sharing deals with payers in order to allow for high-launch prices. (c.f.pay-for-performance)

Answer 9

- Generic competition will introduce the same drug at a fraction of the original price - In many cases, the price of the brand drug is not going to decline drastically: even if considerable market share is lost - it can still be economically viable to keep a high price tage - Depends on product complexity, intensity of generic competition and country-specific stakeholder influence (in some countries, price cut is imposed, reference price systems) --> for instance, intensity of generic competition may differ on small vs. Large molecule drug context - Simultaneous offering of brand and own generic: first-mover entry with first generic may lead to sustained advantage.

Answer 10

- A forecasting model that deals with the adoption of a product into the market. Deals with first adoption - does not deal with repeated buys - Bass is more flexible than the standard model, since it doesn't assume that adopters size categorise follow a normal distribution. It acknowledges that for some products the group of early adopters is bigger than for others. - The role of interactions among user groups and information diffusion. Innovator adopters are comfortable with adopting the product based on firms marketing (do not need word-of-mouth from others). Imitators value the opinions from others --> rely on word of mouth. - Accurate long-range forecasting is difficult as little is known about the true length and sequence of life cycle phases. - Products generally exist in different life cycles stages in different countries - a crucial point to take into account when developing a global marketing strategy - Improvements in communications technology - the internet in particular - have led to more rapid diffusion and are at least partially responsible for shortening PLCS. - When products or entire markets are new, there is little or no historical data and limited experience on which to base the forecasts. - New products can be classified into four categories - dependent on if the product is new to the company or new to the world. - Sometimes a lot of people want to go for the product in the beginning sometimes not <--note taken by Queen J, relevance is under debate but must have been important if I wrote it down

Product launch & Life cycle management Flashcards

(34 cards)